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Commodities Briefing - Categorized | Market Moves, Oil more

Barclays: Sharp fall in crude inventories, taking them below 5 yrs avg

Posted on 25 November 2011

Oil prices remain largely range-bound with the tug-of-war between solid fundamentals and faltering macroeconomic picture continuing. January Brent slipped by $2.01 to $107.02/bbl, while the equivalent WTI contract fell by $1.84 to $96.17/bbl, said Barclays Capital in a Briefing.

Though prices have recovered somewhat on Thursday, the pressure from uncertainty concerning the euro area, China and global growth in general is likely to weigh on prices. The key fundamental data release on Wednesday was the US weekly oil data release, which showed a sharp tightening in the crude market………………………………………Full Article: Source


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